Barclays agreed to pay £180 million for GoHenry, a children's fintech app from Acorns, despite the platform posting £30.5 million in losses in 2021.

Barclays has bought Gohenry from its parent company, Acorns, in a deal that is expected to close in the final quarter of the year.

Barclays expects to retain the GoHenry brand with its standalone app following the takeover, which is expected to complete towards the end of the year.